As a Luther INFINITI client, you have a wide range of financing options and benefits at your disposal. Purchasing or leasing each offers its own individual benefits. Choosing one will depend on your particular needs and desires.
BUYINGWho Owns It
Whether you pay for the car with cash or finance it and make monthly payments, either way, it is yours. Of course, if you are financing it, you will have to meet lender requirements, like a certain down payment amount and timely monthly payments. If you do not, they have the right to repossess it.Up-Front Costs
If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. Down payment is usually based on the leader's requirements and your credit score.
Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!End of Payments
Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.LEASINGWho Owns It
You do not own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.Up-Front Costs
Leases often do not require any type of down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.
In most lease, you don't end up owning it so you don't end up selling it. That is the financial institution's job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.End of Payments
Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we will make sure you have your lease set up the way you want.
Best Cars to Lease
The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.